EconomyUkraineWar

The US House passed $61B financial aid bill for Ukraine the possibility for confiscation of Russian assets

The U.S. House of Representatives passed a bill providing assistance to Ukraine, with 311 members of the lower chamber of Congress voting in favor. The bill, totaling $60.8 billion, primarily allocates $49.9 billion for defense expenditures.

President Joe Biden has promised to sign the bill as soon as it is approved by both houses of Congress. Weapon shipments will begin a week after the bill becomes law, and the aid package likely includes ammunition for air defense systems and artillery.

Additionally, the House of Representatives also approved a bill allowing for the confiscation of Russian sovereign assets for the benefit of Ukraine and the expansion of sanctions against Russia. 360 congressmen voted for this bill. The President of the United States will be authorized to apply the procedure for confiscating sovereign assets with the subsequent transfer of funds to special funds.

Ukrainian President Volodymyr Zelensky emphasized that the adopted bill will help prevent the spread of war, save many lives, and strengthen both nations.

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